Liberty Media is on the move again, this time entering into a definitive agreement with fourth-ranked MSO Charter Communications to acquire nearly 27 million Charter shares and approximately 1.1 million warrants for some $2.6 billion, translating into an approximate 27.3-percent beneficial ownership in Charter and a $95.50 price per share. The investment funds are managed by, or affiliated with, Apollo Management, Oaktree Capital Management and Crestview Partners; Liberty says it expects to fund the purchase with cash on hand and new loan arrangements. The chairmen of both companies – John Malone and Eric Zinterhofer – both praised Charter (and Charter President/CEO Tom Rutledge) for its forward-looking strategy, market position and growth opportunities, and they characterize this investment as being part of the financial pathway to sustained future success. The shares/warrants deal should close sometime in the second quarter.

The Daily

Subscribe
Friday–September 25

REVOLT Expands Distribution on Xfinity

Comcast and REVOLT signed an agreement that will significantly expand the network’s availability to Xfinity customers.

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up